In this podcast, CBP Executive Director Jean Ross talks about the Commission on the 21st Century Economy’s plan to overhaul the state’s tax system. The proposals won’t solve the state’s budget crises. In fact, they’ll probably make them worse. California’s middle- and low-income residents will be the hardest hit. And at the heart of the proposal is a new tax called the business net receipts tax, but there’s almost nowhere in the world with a tax quite like it.
Still hungry for more about the Commission’s tax plan? Read the CBP’s longer analysis of their proposals. Read about the Commission’s proposed new tax structure. Read an alternative to the Commission’s plan proposed by Richard Pomp, a member of the Commission and professor of law at the University of Connecticut. And finally, you can read a letter by some of the nation’s top tax policy experts voicing concerns about the plan.
— Lisa Gardiner